Raising enough cash for a down payment is often the biggest hurdle for homebuyers. According to some estimates, it can take up to 15 years for people to save towards the purchase of a home, especially with conventional mortgages, which require anywhere between 5 to 20 percent down. If you’re trying to buy a $400,000 house, that could equate to $80,000 in cash you...
Get ready for Gen Z. People between the ages of 18 and 23 are eager to become homeowners, and many are already setting aside money for a down payment. More than half of Gen Zers surveyed said they are saving for a home, and 59 percent say they plan to buy a home within the next five years—before they reach the...
Matthew Leprino, REALTOR® and spokesperson for CAR, shares insight on purchasing a home in Denver with 9News. He discusses changes in the qualification process over the years, how much money to put down on a home, "do's and don't's," and advice for social media. ### Video originally posted on 9News.com. Their website can be accessed by clicking here....
3 Most Common Down Payment Programs How do today’s buyers go from dreaming of owning a home to holding their first set of keys? Like most new buyers, the down payment is what’s holding them back. But, it could pay off big time to investigate down payment options. There are more than 2,400 homebuyer programs available across the country--they can be...
Becoming a First-Time Buyer in America’s Least Affordable City June 15, 2017 For millennials in America’s fastest growing cities, becoming a first-time homebuyer is more challenging because average wages can’t keep up with the rising cost of a median priced home. And, Denver takes the number one spot as the least affordable hot spot for millennial buyers, according to a new joint...
As a first-time homebuyer, you have a lot on your mind. But, location and price are likely at the top of the list. So, where can you put down your roots without breaking the bank? Taking a look at three top categories — affordability, livability and price stability—NerdWallet ranked the best places for first-time homebuyers nationwide. Centennial, Colorado ranked 8th nationwide...
According to a Consumer Reports national homeownership survey, more than one-third of millennial respondents said they didn’t own a home because they hadn’t saved enough for a down payment. For many, high rental costs and student debt make it difficult to save for a down payment. Consumer Reports highlights down payment savings strategies, including finding a no-interest loan or homeownership program...
Featured in Inman News on May 20th, the Down Payment Resource program is capturing the attention of real estate professionals and consumers alike. To see the full article in Inman News, click here. Although 87 percent of homes qualify for down payment assistance, many potential homebuyers have no idea that they may be eligible for programs that could save them thousands...
More than 68 million single-family and condo households, about 87 percent, would qualify for down payment assistance available in the county where they are located. That's why CAR, in partnership with Down Payment Resource, has made available a portal through which both members and prospective homeowners can research their eligibility for various down payment assistance program based on property information, household...